Re AE&E & the Belvedere facility


 

TIDMCOST 
 
RNS Number : 2254X 
Costain Group PLC 
02 December 2010 
 

Costain Group PLC 
("Costain" or "the Group") 
 
 
Re AE&E Inova AG & the Belvedere facility 
 
Further to the announcement issued on 29 November 2010, advising on the position 
regarding AE&E Inova AG ('AE&E Inova'), a Swiss-based company, with whom Costain 
has a GBP120 million sub-contract for a major part of the works at the Belvedere 
waste-to-energy facility, and the uncertainty in respect of assurances from AE&A 
Inova regarding future payments under the contract. Costain has received an 
update from AE&E Inova following their board meeting on 30 November 2010. 
 
Costain has been advised by the board of AE&E Inova that "the Board Directors on 
30 November ratified a concept and structure that ensures the continuation of 
on-going projects until a new investor is secured. The concept includes bridge 
loan and bonding lines which carry us through the period needed to close with an 
investor".  Furthermore, they advised that "discussions with the banks regarding 
intermediate financing are now far advanced and very reassuring.  Negotiations 
with a number of strategic investors who have expressed great interest in our 
global business have been encouraging as well". 
 
Notwithstanding this update, Costain is continuing active discussions with both 
AE&E Inova and Cory Environmental, for whom the Belvedere facility is a 
development project, regarding the financing and completion of the project. 
 
Further announcements will be made as appropriate. 
 
 
2 December 2010 
 
 
Enquiries: 
 
+----------------------------------+--------------------------+ 
| Costain Group PLC                |                          | 
|                                  |                          | 
+----------------------------------+--------------------------+ 
| Andrew Wyllie, Chief Executive   | Tel: 01628 842 444       | 
+----------------------------------+--------------------------+ 
| Tony Bickerstaff, Finance        |                          | 
| Director                         |                          | 
+----------------------------------+--------------------------+ 
| Graham Read, Communications      |                          | 
| Director                         |                          | 
+----------------------------------+--------------------------+ 
|                                  |                          | 
+----------------------------------+--------------------------+ 
| College Hill                     | Tel: 020 7457 2020       | 
|                                  |                          | 
+----------------------------------+--------------------------+ 
| Mark Garraway                    |                          | 
+----------------------------------+--------------------------+ 
| Adam Aljewicz                    |                          | 
+----------------------------------+--------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCEAEAFELDEFAF

Costain (LSE:COST)
過去株価チャート
から 6 2024 まで 7 2024